Environmental
We recognise our responsibility to help protect the environment and support the transition towards a low-carbon economy. We seek to do so in two main ways:
-
Managing our emissions: Minimise the negative environmental impact of our operations, with a particular focus on reducing greenhouse gas emissions. Our target is to be carbon neutral across both Scope 1 and Scope 2 emissions by the end of 2026. The Group’s strategy focuses on:
a) reducing the emissions of our own operations; and
b) ensuring the resilience of our business against the backdrop of climate change. -
Supporting our clients: Apply our unique capabilities and strengths – our capacity to connect clients to liquidity and data solutions – to help them advance their transition journeys and meet their sustainability objectives.
Social
Attracting, developing, and retaining a talented, engaged group of colleagues is central to our success. Our objective is to continually work to develop an inclusive and positive culture, where we create meaningful opportunities for our employees to flourish.
We consider all categories of diversity important to our business and reflective of the communities in which we operate, including race/ethnicity; multi-generational; LGBTQ+; and socio-economic diversity.
Our initial focus is on improving gender diversity. Over time, we will broaden this scope to include other categories of diversity. In 2022, female representation in non-broking roles increased from 34% to 35%, reflecting new recruiting and retention efforts. Our target is to reach 38% by then end of 2025.
Governance
Business integrity and accountability underpin everything we do, so ensuring that TP ICAP remains a trusted, relevant and well-run business.
Governance of our ESG performance sits at the highest level of the business, with a dedicated Group ESG Forum reporting directly into the Group Executive Committee. At TP ICAP Group plc Board level, Tracy Clarke is the Non-executive Director responsible for ESG Engagement. She works closely with the Company’s senior management to ensure that the Board continues to have the right conversations on business strategy from an ESG perspective.
Aligned to SASB guidance, good governance for TP ICAP includes how well we incorporate ESG factors into our brokerage activities.
As an intermediary, achieving this is not as clear cut as it is for a bank (that underwrites investments), an asset manager (that makes investments), or an exchange (that maintains listing requirements). Rather, as an intermediary we connect sophisticated counterparties who are often already aware of the ESG characteristics of the assets they are trading among each other.
Therefore, we have chosen to focus on what we can control: the process by which we evaluate new business initiatives.
Governance target: We commit to incorporate mandatory ESG scoring into the evaluation and approval process for any new business initiative. We target has been achieved and the new ESG scoring process is operational.
To determine a score, we added a mandatory ESG questionnaire to the Change Management Framework (‘CMF’) process through which all new business initiatives are reviewed. The questions focus on emissions, gender representation, and type of asset class. They seek to identify risks and opportunities associated with any new business initiative. The outcome is an ESG score that forms part of the information for approval that the Change Subcommittee reviews.
